Global Update: Phoenix Rising

News from luxury-home markets around the world

The newly released Wealth-X Caribbean Wealth & Investment Report 2015 has found that the ultra-high-net-worth population in the Caribbean grew by 2.1% last year to reach over 1,155 individuals, many of whom relocated from another country. This swelling UNHWI community has contributed to the region’s 11% annual growth in luxury property sales. Read the full report. [Wealth X]

Manhattan at any price: A new report from Citi Habitats says that Manhattan’s rental vacancy rate hit a three-year low of 1.07% while the average cost of rent is at an all-time high of $4,081. [New York Post]

The Royal Institution of Charted Surveyors’ monthly index projects that British home prices will continue to rise over the next three months as the pool of potential buyers expands while the number of sellers remains limited. [The Business Times]

Data from the first six weeks of the second quarter show that Dubai’s sales prices continue to decline with the price of apartments and villas dropping 1.5% and 2.9%, respectively. [Zawya]

Phoenix is rising like a, well, phoenix. A new study from Arizona State University has found that a spiking demand and limited supply are contributing to a 5.1% annual growth in median home prices in the state’s capital. [Phoenix Business Journal]